In a month, I can sell 420 of my unlicensed Warriors T-shirts ata price of $12. At $18, I sell 180. The T-shirts cost me $8 each,and I bribe the local law enforcement $300 per month to use acorner near a BART station to sell my shirts.
1. Assume price-demand is linear
a. Find the slope of the price-demand function.
b. Find the vertical-intercept of the price-demand function.
c. Write a function to predict demand (in a month) given anyprice.
d. Predict the demand at a price of $10.
e. What price fetches a demand of 800 shirts?
2. Assume cost is linear.
a. Write a function to predict cost (in a month) given anyprice.
b. Predict the cost at a price of $10.
